Stocks edge mostly lower, weighed down by the energy sector

Tech stocks are edging higher following a strong report from chipmaking equipment company Applied Materials, but retail stocks are sliding further after a disappointing report from department store operator Nordstrom.

The Nasdaq composite picked up 11 points, or 0.3 percent, to 4,498 as tech stocks inched higher.

Yahoo rose 69 cents, or 2.3 percent, to $30.11 after the Internet company said it has created a committee of independent directors and hired advisers as part of an effort to redefine itself.

V.F. Corp, the company behind brands such as Vans, North Face and Timberland, also dropped after its profit and sales fell far short of analyst estimates.

Agricultural equipment company Deere lowered its sales forecast for the year as sales of farm and construction remain weak.

The Labor Department said prices for consumer goods have risen 1.4 percent over the last year, a sign that the pace of inflation is picking up.

Michael Scanlon, managing director and portfolio manager for John Hancock Asset Management, said consumers are still spending plenty of money on cars, homes and travel even though some retailers are struggling.

Gas prices have stayed low for more than a year, and he thinks shoppers will start to trust that pump prices are going to stay depressed.

The provider of health, commuter and other employee benefits reported stronger-than-expected quarterly results.

European stocks fell as the leaders of Britain and the rest of the 28-country European Union entered a second day of talks on how to reform the country's membership in the bloc.

Asian stocks were mixed, as Japan's benchmark Nikkei 225 lost 1.4 percent and South Korea's Kospi added 0.4 percent.